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Old 01-07-2016, 09:58 AM   #3
squiggs96
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Join Date: Nov 2009
Location: Section 203
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Basically, here's how it works. The city will pick a value for your property, let's assume it's $1,000,000. Everyone on your block that has the same size lot will have the same land value. In your case, let's assume everyone is assessed with an $825,000 land value. Since there is only one number left over, your house value is the plug of $175,000.
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